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By: Staff reporter
Mortgage Choice may soon start selling its own suite of home loan products, rivaling Aussie Home Loans.
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According to a report in The Australian, the mortgage broker is currently investigating its options, however, it is unclear whether or not the suite of products would receive the company branding.
"My perspective is if we could go out there and source some funding and create a suite of products that is every bit as competitive as the best of the products we have on our panel, then we owe it to our customers to investigate that,” Mr Russell said.
"I am considering a suite of home loan products that is our own, but from a branding perspective we haven't thought that through yet – whether they will be branded as Mortgage Choice.”
Mr Russell said the need for Mortgage Choice to introduce its own loan products really “hit home” during the global financial crisis.
According to Mr Russell, brokers were receiving calls from anxious borrowers who wanted to know what was happening with their loan.
“The company had no control over what was occurring and we never want to be exposed to that again,” he said.
"That's where, if you do have your own product, you are able to have a real consistency in the processing and turnaround time."
From a corporate perspective, Mr Russell said any new proprietary funding arrangement would have to pay its way.
Mortgage Choice franchisees are paid the same commission, irrespective of which lender they choose.
